Consider the following statements regarding procurement policy 2012 1 Every Central M...........

Economic Affairs Agricultural Policy and Growth

Consider the following statements regarding procurement policy 2012:

1. Every Central Ministry /Department / PSUs shall set an annual target for 60% procurement from MSE Sector.

2. A sub-target of 40% out of 60% target of annual procurement earmarked for procurement from MSEs owned by SC/ST entrepreneurs.

Which of the statement given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

Salient features of the Policy:

Every Central Ministry /Department / PSUs shall set an annual target for 20% procurement from MSE Sector.
A sub-target of 4% out of 20% target of annual procurement earmarked for procurement from MSEs owned by SC/ST entrepreneurs.
Overall procurement goal of minimum 20% has become mandatory from 1st April 2015.
Tender sets free of cost and exemption from payment of earnest money to registered MSEs.
358 items are reserved for exclusive procurement from MSEs.
Ministry /Department/CPSUs shall prepare their annual procurement plan to be uploaded on their official website.
For enhancing participation of MSEs in government procurement, Ministry /Department/CPSUs shall conduct Vendor Development Programmes or Buyer Seller Meets for MSEs especially for SC/ST entrepreneur